Cabot Corporation (NYSE:CBT) Stock Has Consensus Target Price of $87.80

Cabot Corporation (NYSE:CBT) has been assigned a consensus rating of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $87.80.

A number of equities research analysts have recently weighed in on CBT shares. JPMorgan Chase & Co. lifted their target price on Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. Truist Financial set a $100.00 price objective on shares of Cabot in a report on Wednesday, August 5th. UBS Group lowered their target price on shares of Cabot from $92.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Wall Street Zen upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st.

Cabot Stock Up 1.6%

Cabot stock opened at $75.64 on Tuesday. The company’s 50-day moving average price is $77.79 and its two-hundred day moving average price is $79.52. The company has a quick ratio of 0.97, a current ratio of 1.47 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.90 billion, a P/E ratio of 21.31, a P/E/G ratio of 8.68 and a beta of 0.83. Cabot has a twelve month low of $58.33 and a twelve month high of $94.53.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, November 2nd. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. Cabot had a return on equity of 20.29% and a net margin of 5.23%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $927.29 million. During the same quarter in the previous year, the company posted $1.70 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. As a group, analysts expect that Cabot will post 6.35 EPS for the current year.

Insiders Place Their Bets

In other Cabot news, CEO Sean Keohane sold 134,895 shares of Cabot stock in a transaction on Friday, August 28th. The stock was sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the transaction, the chief executive officer directly owned 404,134 shares of the company’s stock, valued at $34,351,390. The trade was a 25.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 229,597 shares of company stock valued at $19,646,746. 3.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC bought a new stake in Cabot during the third quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Cabot during the second quarter worth about $33,000. Rockefeller Capital Management L.P. increased its holdings in Cabot by 115.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,152 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 617 shares during the period. Global Retirement Partners LLC bought a new position in Cabot in the 2nd quarter valued at about $88,000. Finally, Parallel Advisors LLC increased its holdings in Cabot by 10.5% in the 1st quarter. Parallel Advisors LLC now owns 1,843 shares of the specialty chemicals company’s stock valued at $139,000 after buying an additional 175 shares during the period. Institutional investors own 93.18% of the company’s stock.

Cabot Company Profile

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.

Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.